January 2017 Outer Banks Market Report

It’s exciting to have some good news to report! While the number of homes closed in January 2017 was identical to 2016, the number of homes going under contract is up considerably.

Closed sales for January, reflects homes that went under contract in November or December of 2016. There were 111 sold in 2016 and 112 in 2017. Not bad for a resort area.

However, in January this year we saw 231 properties go under contract. The last time the number for January was this high was in 2006 at 263. Something happened in the last 30 days to create some amazing consumer confidence. I’m super thrilled for this year’s activity!!!

Two morals of this story:

If you are interested in selling your home, there’s NO REASON to wait until March or April. The market is here NOW.

If your home is already on the market and not selling, chances are you are priced too high. It’s difficult to accept today’s prices, no doubt. Inventory levels are still too high to see appreciation. It’s unclear how long it will take to recover, since we are still in the midst of the cycle.

If you’d like to find out what your home could sell for now, click here and I’ll get you a free analysis!

If you’re interested in making an investment on the Outer Banks, click here to find out what you need to know before buying in the area.